Yankees complete YES Network deal with News Corp

News Corporation’s anticipated 49 percent acquisition of the Yankees’ YES Network was made official on Tuesday via statements released by both organizations.

In lauding the new partnership, Yankees managing general partner Hal Steinbrenner added that “The Steinbrenner family expects to have a continuing, long-term ownership stake in the YES Network and we will continue our yearly commitment of fielding a championship caliber team for decades to come.’’

On Monday, a senior club official – speaking on the condition of anonymity due to the deal’s pending nature - said the team was not for sale and that the goal to reduce payroll in order to avoid luxury taxes in 2014 would be unaffected.

After three years, News Corp may acquire an additional stake in YES that could bring its ownership to 80 percent, according to Tuesday’s statement. Yankee Global Enterprises would still retain a “significant minority stake’’ in YES at that time.

News Corp, which owns Fox, has designs on starting a regional sports network in 2013.